UK Accounting Glossary
A family of funds refers to a group of mutual funds that are offered, managed and/or distributed by the same investment company, even though each fund in the family of funds may have a different objective. For example, one fund in a family of funds may be a growth fund, while another fund in that family of funds may be a money market fund. Investors can typically move assets between the funds of a family of funds at little or no cost. This allows investors to more easily respond to changes in the market or their needs. However, there could be tax consequences for transferring money from one fund to another in a family of funds. A benefit of a family of funds is that investors can receive a single statement that describes all their holdings in the fund family. Some companies that maintain a family of funds are AIM Investments, Fidelity, Janus, Oakmark, PIMCO, Putnam, and Vanguard.
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This glossary post was last updated: 9th February 2020.